Crude Oil Daily Forecast Feb 17 2015

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Outlook in Crude Oil has turned to the upside as long as 51.00 support holds on a daily closing basis  , resistance comes at the 53.40 levels , above the 53.40 will look for the 56.00 levels , a halt is likely but a break would open 59.50 next , further upside will target the 63.20 levels.

On the downside , support comes at the 51.00 levels  , losing the last one on a daily closing basis will turn outlook neutral and bring a corrective pullback above the 47.35 levels before the next possible rise..

In all , as long as 51.00 support holds on a daily closing basis , outlook in Crude Oil remains on the upside towards the 53.40 levels ahead of the 56.00 levels , below the 51.00 levels will turn outlook neutral towards the 47.35 levels before the next rise..

Support levels on the 4 hour time frame : 51.37 (main) , 52.08 , 52.92….

 

Crude Oil Daily Forecast Feb 17 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS